A factory has a piece-work scheme for mass production of a certain component for a T.V. manufacturer.
Question:
A factory has a piece-work scheme for mass production of a certain component for a T.V. manufacturer. The standard production fixed for a day of 8 hours is 40 units. The piece work rate is Rs. 4 per piece. The details of remuneration payable to the workers are as follows:
Transcribed Image Text:
Production Upto 80% efficiency Above 80% Wages Per week wages @ Rs. 4 per piece subject to guaranteed minimum wages of Rs. 100/day -do- Dearness allowance Rs. 60/ day -do- Incentive bonus Nil Rs. 40/- for every 1% increase in efficiency above 80% Three workers Ram, Salim, Tom gave the following performance for May 2007: Name of the worker No. of days worked Ram 20 Salim 24 Tom 25 Calculate their total earnings. Output (units) 480 864 1,100
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
The earnings are worked out as follows Basic Wages Actual output x Rs 4 per piece In case of Ram i...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Blossom Corporation is a publicly traded company and follows IFRS. On December 31, 2022, Blossom's financial records indicated the following information related to the company's defined benefit...
-
LLJ Satellites: Variance Analysis and Budgeting Jack Childs is nervous about his company's future performance. The Childs family own 40% of the shares of LLJ Satellites, and generally has control...
-
Do women lead differently than men?
-
Superior Door Company (SDC) manufactures and sells two main product lines, interior doors and exterior doors. Its products are sold through industry and wholesale suppliers. SDC's products are known...
-
What is the equivalent resistance between points A and B in Fig. 18.29? 10 R2 4,0 R3 6.0
-
An electron that has a kinetic energy of \(7.5 \times 10^{-17} \mathrm{~J}\) moves in a circular orbit perpendicular to a uniform magnetic field of magnitude 0. 35 T. For this electron, determine...
-
Comparison of variable costing and absorption costing. Hinkle Company uses standard costing. Tim Bartina, the new president of Hinkle Company, is presented with the following data for 2009: 1. At...
-
When an object is placed between the pole(P) and focus(F) of a concave mirror, the image formed is (i) behind the mirror (ii) virtual and erect and (iii) larger than the object (or magnified) M A' E...
-
Calculate total monthly remuneration of three workers A, B and C from the following data: (a) Standard production per month per worker - 1,000 units. Actual production during month A - 850 units, B -...
-
What are the reasons for booking workers on idle time in a factory? How is idle time controlled and treated in cost accounts?
-
If y = f(x) and x changes from x1 to x2, write expressions for the following. (a) The average rate of change of y with respect to x over the interval [x1, x2]. (b) The instantaneous rate of change of...
-
Longest plateau. Given an array of integers, find the length and location of the longest contiguous sequence of equal values for which the values of the elements just before and just after this...
-
What does each of the following print? a. System.out.println('b'); b. System.out.println('b' + 'c'); c. System.out.println((char) ('a' + 4)); Explain each outcome.
-
In the game show Lets Make a Deal, a contestant is presented with three doors. Behind one of them is a valuable prize. After the contestant chooses a door, the host opens one of the other two doors...
-
Bad shuffling. Suppose that you choose a random integer between 0 and n-1 in our shuffling code instead of one between i and n-1. Show that the resulting order is not equally likely to be one of the...
-
Coupon collector. Run experiments to validate the classical mathematical result that the expected number of coupons needed to collect n values is approximately n Hn, where Hn in the nth harmonic...
-
You are analyzing Tiffanys, an upscale retailer, and find that the regression estimate of the firms beta is 0.75; the standard error for the beta estimate is 0.50. You also note that the average...
-
The first national bank pays a 4% interest rate compound continuously. The effective annual rate paid by the bank is __________. a. 4.16% b. 4.20% c. 4.08% d. 4.12%
-
The unit cost of normal spoilage is the same as the unit cost of abnormal spoilage. Do you agree? Explain.
-
The unit cost of normal spoilage is the same as the unit cost of abnormal spoilage. Do you agree? Explain.
-
The unit cost of normal spoilage is the same as the unit cost of abnormal spoilage. Do you agree? Explain.
-
Clyde Industries began the year with inventory of $90,000. Purchases of inventory on account during the year totaled $315,000. Inventory costing $340,000 was sold on account for $530,000. Required:...
-
I Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:...
-
12/31/2024 Adjusted Trail Balance Account Title Debits Credits Cash 680 Accounts receivable 845 Inventory 855 Prepaid insurance 160 Equipment 3,500 Less: Accumulated depreciation 1,220 Accounts...
Study smarter with the SolutionInn App